Movella Holdings announced that it was notified by the Nasdaq Stock Market of the timing of Nasdaq’s planned suspension of trading of the Company’s securities. As previously disclosed in its Current Report filed on Form 8-K with the SEC on March 20, the Company notified Nasdaq of the Company’s decision to voluntarily delist its shares of common stock, par value 0.001c per share and its warrants exercisable for one share of Common Stock at an exercise price of $11.50 from the Nasdaq Global Market. As disclosed in the 8-K, the Company had expected that the last trading day of the Securities on the Nasdaq Global Market would be on or about April 11. On March 22 however, Nasdaq notified the Company that trading of its Securities would be suspended after the Company files a Form 25 with the SEC on April 1 resulting in the last trading day for the Securities occurring on or about April 1 instead of on or about April 11 as previously thought. The Securities will remain listed on Nasdaq while trading is suspended until the effectiveness of the Form 25 filing on or about April 11 after which time the Securities will be delisted from Nasdaq.
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